For the low price of $100, Onslow County residents have a chance at beachfront North Topsail Beach property.

The town has announced an auction of 55 town-owned properties up for bid at an auction set for March 3 at 1 p.m. at town hall.

The property auction is something Town Manager Stuart Turille said hasn’t been done before that he’s aware of. While the town regularly conducts a surplus auction of items like radios and police vehicles, auctioning real property, he said, is unusual.

“It’s no secret that the town is a barrier island facing erosion issues and has spent money on what’s called shoreline protection ... to protect our citizens’ property and lives,” he said. “We have to do that. We certainly don’t want to raise taxes to do that.”

Selling surplus land, he said, liquefies tangible assets and returns the funds to taxpayers as opposed to leaving the assets as real property that he says has no value for town service levels. The primary reason for the auction, he added, is to continue to build the town’s savings for shoreline protection.

“We spend a very large amount on beach nourishment, what’s over all beach protection,” he said. “It makes more sense to sell it and return that money back to the town ... at the same time giving homeowners and non-local homeowners the opportunity to purchase land.”

The auction, which will be conducted by Johnson Properties Realtors & Auctioneers, Inc., will sell parcels of land along roads like New River Inlet Road, Topsail Road and Folkstone Road. The land, Turille said, is vacant land, some of it beachfront. According to a public notice, terms of the sale require buyers to present a bid deposit of 5 percent of the bid amount, either in cash or a certified check. The Board of Aldermen, thereafter, will accept or reject the highest bid within 30 days after the bid is reported to the town. Should the board reject the highest bid, the town can re-advertise the property for sale, the notice said.

“It represents an excellent opportunity to make an offer on some quality beachfront property in town,” Turille said. “You’d be surprised by the quality of the offers ... what could be depending on the offers, very reasonably priced.”

For more information, visit NTBNC.org or contact Carin Faulkner, assistant town manager, at 910-328-1349.